VREBOS: what changed
Two fiscal years side by side, explained: what moved most in the balance sheet and the result, why the result rose or fell, and where the money went.
VREBOS
Largest movements
- Stocks and contracts -€40,222
down €40,222 (-95.4%), from €42,150 to €1,928
- Tangible fixed assets -€11,654
down €11,654 (-31.9%), from €36,546 to €24,892
of which Furniture and vehicles: -€9,177
- Cash -€6,069
down €6,069 (-9.1%), from €67,049 to €60,980
mainly Net result for the year (-€24,944) and Trade debts (-€20,579)
- Receivables within one year +€3,558
up €3,558 (+451.4%), from €788 to €4,346
of which Trade receivables: +€3,670
- Profit (loss) carried forward -€24,944
down €24,944 (-22.8%), from -€109,605 to -€134,550
- Trade debts -€20,579
down €20,579 (-79.3%), from €25,957 to €5,378
- Short-term financial debts -€7,000
down €7,000 (-29.2%), from €24,000 to €17,000
- Debts after one year -€6,538
down €6,538 (-9.4%), from €69,383 to €62,846
- Tax, wage and social debts +€5,770
up €5,770 (+389.9%), from €1,480 to €7,250
- Depreciation -€11,437
down €11,437 (-55.1%), from €20,740 to €9,303
- Gross operating margin -€9,361
down €9,361 (-29262.0%), from -€32 to -€9,393
- Financial income -€3,526
down €3,526 (-66.8%), from €5,280 to €1,755
- Financial charges -€1,186
down €1,186 (-22.1%), from €5,366 to €4,179
- Other operating charges +€105
up €105 (+2.9%), from €3,585 to €3,690
From the 2024 result to the 2025 result
Each bar is the change in one income-statement line, as its effect on the result: higher costs pull it down, higher income lifts it.
Cash bridge derived
Derived from the 2024 and 2025 balance sheets and the 2025 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €148,053 | €93,117 | -€54,936 | -37.1% |
| Fixed assets | 21/28 | €36,608 | €24,954 | -€11,654 | -31.8% |
| Tangible fixed assets | 22/27 | €36,546 | €24,892 | -€11,654 | -31.9% |
| Plant, machinery and equipment | 23 | €1,468 | - | -€1,468 | |
| Furniture and vehicles | 24 | €34,070 | €24,892 | -€9,177 | -26.9% |
| Other tangible fixed assets | 26 | €1,009 | - | -€1,009 | |
| Financial fixed assets | 28 | €62 | €62 | = | 0.0% |
| Current assets | 29/58 | €111,445 | €68,163 | -€43,282 | -38.8% |
| Stocks and contracts in progress | 3 | €42,150 | €1,928 | -€40,222 | -95.4% |
| Stocks | 30/36 | €42,150 | €1,928 | -€40,222 | -95.4% |
| Amounts receivable within one year | 40/41 | €788 | €4,346 | +€3,558 | +451.4% |
| Trade receivables | 40 | €476 | €4,146 | +€3,670 | +770.4% |
| Other amounts receivable | 41 | €312 | €200 | -€111 | -35.7% |
| Cash at bank and in hand | 54/58 | €67,049 | €60,980 | -€6,069 | -9.1% |
| Deferred charges and accrued income | 490/1 | €1,458 | €909 | -€549 | -37.7% |
| Total equity and liabilities | 10/49 | €148,053 | €93,117 | -€54,936 | -37.1% |
| Equity | 10/15 | -€30,005 | -€54,950 | -€24,944 | -83.1% |
| Contributions | 10/11 | €71,800 | €71,800 | = | 0.0% |
| Reserves | 13 | €7,800 | €7,800 | = | 0.0% |
| Distributable reserves | 133 | €7,800 | €7,800 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€109,605 | -€134,550 | -€24,944 | -22.8% |
| Amounts payable | 17/49 | €178,058 | €148,067 | -€29,992 | -16.8% |
| Amounts payable after more than one year | 17 | €69,383 | €62,846 | -€6,538 | -9.4% |
| Financial debts | 170/4 | €69,383 | €62,846 | -€6,538 | -9.4% |
| Amounts payable within one year | 42/48 | €104,232 | €81,956 | -€22,276 | -21.4% |
| Current portion of amounts payable after more than one year | 42 | €6,226 | €6,538 | +€311 | +5.0% |
| Financial debts | 43 | €24,000 | €17,000 | -€7,000 | -29.2% |
| Credit institutions | 430/8 | €24,000 | €17,000 | -€7,000 | -29.2% |
| Trade debts | 44 | €25,957 | €5,378 | -€20,579 | -79.3% |
| Suppliers | 440/4 | €25,957 | €5,378 | -€20,579 | -79.3% |
| Taxes, remuneration and social security | 45 | €1,480 | €7,250 | +€5,770 | +389.9% |
| Taxes | 450/3 | €1,480 | €7,250 | +€5,770 | +389.9% |
| Other amounts payable | 47/48 | €46,570 | €45,790 | -€779 | -1.7% |
| Accrued charges and deferred income | 492/3 | €4,443 | €3,265 | -€1,178 | -26.5% |
| Non-recurring operating income | 76A | - | €1,046 | +€1,046 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €20,740 | €9,303 | -€11,437 | -55.1% |
| Other operating charges | 640/8 | €3,585 | €3,690 | +€105 | +2.9% |
| Gross operating margin | 9900 | -€32 | -€9,393 | -€9,361 | -29262.0% |
| Operating profit (loss) | 9901 | -€24,357 | -€22,386 | +€1,971 | +8.1% |
| Financial income | 75/76B | €5,280 | €1,755 | -€3,526 | -66.8% |
| Recurring financial income | 75 | €5,280 | €1,755 | -€3,526 | -66.8% |
| Financial charges | 65/66B | €5,366 | €4,179 | -€1,186 | -22.1% |
| Recurring financial charges | 65 | €5,366 | €4,179 | -€1,186 | -22.1% |
| Profit (loss) for the period before taxes | 9903 | -€24,442 | -€24,810 | -€368 | -1.5% |
| Income taxes | 67/77 | €142 | €134 | -€9 | -6.1% |
| Profit (loss) for the period | 9904 | -€24,585 | -€24,944 | -€360 | -1.5% |
| Profit (loss) for the period to be appropriated | 9905 | -€24,585 | -€24,944 | -€360 | -1.5% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 4 October 2026 via checked.be.